2019 Federal, Connecticut and Florida Estate Taxes
by Julie Jason on Jan 9, 2019
The current 2019 federal exemption amount is $11.4 million per person, up from $11.18 in 2018 and $5.49 million in 2017. That means that 2019 decedents with assets below $11.4 million will not be subject to federal estate taxes. What about state estate or inheritance taxes?
In Connecticut, for example, the 2019 exemption amount is $3.6 million, up from $2.6 million in 2018 and $2 million in 2017. That means that 2019 decedents with estates less than $3.6 million will not be subject to Connecticut estate taxes.
Some states, such as Florida, have no estate or inheritance taxes, thereby “exempting” 100 percent of a decedent’s assets.